In a recent update, anonymous analyst Rekt Capital told his 91,000 YouTube subscribers that Bitcoin could break above the upper boundary of its trading range within the next few weeks and reach an ATH.
“We have been testing $60,000 for several weeks now and are trying to position ourselves for a high of around $71,000. Of course, the market needs to face a series of lower highs, but once we break through these levels, BTC will head towards the all-important resistance level of $70,000 and move from the re-accumulation phase to the parabolic rally phase of the cycle.”
Source: Rekt Capital
The analyst also suggested that, based on previous cycles, Bitcoin could reach a cycle peak around March 2025, 330 days after the halving event in April 2024, when miner rewards are cut in half.
“250 days after breaking the old ATH would be the earliest time to consider exiting the market and the longest would be 330 days after the halving… However, that is a different story because we haven't even broken the old ATH yet, it's just a matter of time.”
Source: Rekt Capital
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